Investment manager Roc Partners has agreed to acquire Australian fresh produce maker Freshmax Group, ensuring its “long-term growth.”
Previously, Freshmax was owned by a diverse group of shareholders, which included Maui Capital along with current and former employees, the spokesperson noted.
In the last complete financial year, the company reported annual sales exceeding A$300m ($189m).
The sale process was managed by Kidder Williams, a corporate advisory firm specializing in food and agribusiness transactions.
In a statement, a spokesperson from Kidder Williams elaborated that Freshmax does not own any growing assets. Instead, it operates an IP management division overseeing marketing, propagation, and growing rights, which are then sub-licensed to growers.
The Freshmax brand portfolio features a mix of owned and licensed brands, with licensed varieties including Tangold mandarins, Mountain Blue blueberries, Lani cherries, and Modi apples.
Freshmax chairman Glenn Wallace stated: “The acquisition by Roc Partners ensures a stable and strategic future for Freshmax.”
He further elaborated, “Their understanding of the food and agriculture sectors and commitment to sustainable growth aligns perfectly with our vision. We look forward to seeing Freshmax thrive under their stewardship.”
Roc Partners Food and Agriculture vice-president Todd Winkley emphasized: “Freshmax represents a compelling opportunity for us to invest in a growing company with a vastly experienced management team. We intend to use this strong foundation as a platform for further expansion.”
He concluded, “We are committed to leveraging our resources and expertise to support Freshmax in achieving its ambitions, nurturing continued innovation, and strengthening its position in the global fresh produce market.”
